Centura lands Interquest site for $30M

The 57.81-acre parcel at the intersection of Interstate 25 and Interquest Parkway is where, in 2020, Centura is anticipated to start work on a third hospital campus.

Centura Health is growing in Colorado Springs.

The health care system paid $30 million for a 57.81-acre parcel at the intersection of Interstate 25 and Interquest Parkway, where, in 2020, it is anticipated to start work on a third hospital campus for Centura Health’s Penrose-St. Francis Health Services.

Initial plans for the land include approximately 50 acute care hospital beds with the design contemplating future expansion up to 300 beds. A large ambulatory surgery center, inpatient and outpatient surgery, inpatient rehab facility and at least one medical office building are included in the initial phases of the project.

“Our extensive community studies and projections indicate that this area represents both an existing need and significant future growth. With this campus, PenroseSt. Francis Health Services will build on its 130-year legacy of providing excellent and innovative care locally. Southern Colorado residents need not travel far to receive world-class health care. With three campuses in Colorado Springs, we will serve everyone in need with compassion and respect,” a Centura spokeswoman said in a statement.

Additionally, as the center of Colorado Springs is moving to the north and east, the new campus is designed to work in conjunction with its expanding primary care and urgent care services to bring the full spectrum of care to residents of Southern Colorado and western Kansas, according to Centura.

The Interquest campus will be designed to serve all ages and orthopedic/spine ailments.

Etkin Johnson Real Estate Partners sold the parcel, part of a 77-acre parcel it acquired in 2016. Just east of the U.S. Air Force Academy, the site offers easy access to several new multifamily, office, hotel and retail developments in the area, including FalconView, a 288-unit luxury apartment community immediately adjacent to Centura site, which is being developed by Etkin Johnson.

Craig Anderson and Mike Suggs of NAI Highland LLC represented Centura in the acquisition. Michael Palmer of Quantum Commercial Group Inc. represented Etkin Johnson in the sale.

“Northern Colorado Springs is quickly becoming a leading economic engine, paving a clear path of growth for the city,” said Ryan Good, partner at Etkin Johnson. “This highly visible site will allow Centura Health to better serve Coloradoans, while also providing their doctors, nurses and staff with multiple options for housing nearby. We plan to reinvest the capital into future developments and acquisitions that are currently in the works.”

“They bought an excellent parcel along the interstate and will have a great presence there in the future,” added Anderson.

Centura expects to see its first patient at the hospital campus in late 2022.

Penrose Hospital (in central Colorado Springs) and St. Francis Medical Center (in northeast Colorado Springs) make up Penrose-St. Francis Health Services, which is owned by Centura Health.

Featured in CREJ’s March 6-19, 2019, issue

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and retail news in the Denver metro area plus all property types in Colorado Springs and Southern Colorado. She also covers the finance market as well as solicits bylines articles and is editor of the Health Care Properties Quarterly. Before joining…